While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
97.47 USD/JPY ( App 102.59 Futures) is today's OR #
Running the stops through this level will lead to a test of 97.85 (102.19 Futures).
With a little help from the Equity Indices we can hopefully get filled selling 1/2 our Long Aussie.
AUD/JPY...looks to run into resistance around 93.32. Closing over that level will lead to a retest of the 200 day (app 94.70).
I'm toying with legging EUR/AUD, which would be selling an equal amount of EURO against our Long Aussie.
I'll review this late in the day, hopefully after we get filled selling 1/2 our Long Aussie @ 95.14.
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